Has officially gone private and is no longer reporting
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Got some 6.12 here
Nobody liked it at $5?
$CXDC- Nope, but hoping for a pullback to get back in with some size.
$SORL- Your chawt is prettier than the one I put up. Shaping up nicely, but I'm not in a rush and will buy a pullback.
Correct, but I'm not complaining. The guy is a prop trader with almost 19,000 twitter followers and is stating he thinks PEIX is worth chasing here.
Given PEIX short interest & prior lack of awareness, I like how this is shaping up.
ibankcoin (@The_Real_Fly) with some hilarious PEIX blog posts today...prop trader who is always fun to read. Sometimes a bit vulgar haha. Never bad being on same side of trade as the prop traders.
"The Farmer is My Slave"
http://ibankcoin.com/flyblog/2014/07/16/the-farmer-is-my-slave/
"The Fed Has Mandated You to Sell"
http://ibankcoin.com/flyblog/2014/07/16/the-fed-has-mandated-you-to-sell/
PEIX- "The Farmer is My Slave" at iBankCoin flyblog
http://ibankcoin.com/flyblog/2014/07/16/the-farmer-is-my-slave/
“Go fetch me a bushel of corn. I will not be paying very much for it either.”
The simple fact of the matter is, the US farmer are stuck in a corn maze, all to do with the sun and a cooler than expected summer. These summer winds will bring forth RECORD corn crops. As such, the price of corn shall plummet to the dirt, offering corn farmers nothing but misery.
To profit from this, “The Fly” has decided to chase the shares of PEIX here. Gasoline demand is robust and we have a criminally insane administration who just might up the mandated 10% ethanol blend to something even more egregious. With corn low and gasoline high, ethanol producers are in a sweet spot (extra corn).
Other ethanol plays include REX, GPRE, BIOF and AMTX.
Maybe a weeeeeeeee bit late to the party.
+4% in Canada, +3% in US...strange
Short attack? I think it was just a dump.
Really strange though. I tried to buy 50k shares at .08 in final minute or two. My order just sat there & never filled so I entered another at .0799 since that was the ask. Same thing...it was like the MM just didn't want to fill my orders.
I was also bidding .075 just in case.
$CREG read their last PR...they jumped into bed with YA Global. Yikes!
$SORL nice chart setup and may be waking up here. Somehow the momentum players have missed this as a play on EV but I think it will launch on the first EV-related PR. Q1 CC transcript.
http://seekingalpha.com/article/2222663-sorl-auto-parts-sorl-management-on-q1-2014-results-earnings-call-transcript
Peter Siris
SKBI- today's news should prevent a bounce in the near future. Hope you werent' in.
Skystar Bio-Pharmaceutical Announces $5 Million Registered Direct Offering
http://finance.yahoo.com/news/skystar-bio-pharmaceutical-announces-5-125754848.html
CXDC- sold on small bounce today so it will likely run from here. I'm kind of a flipper at times with these bounce plays.
I generally sell too early it seems.
3.5 months since dav1234 last posted...where's he at?
hmmm, thanks for making me feel young:) Pretty nice buy volume in last 10 minutes even if the daily chart looks like poop.
LSTMF plenty of buying support here in 6.60 range but still no bounce. I bought a bunch, eeek.
LSTMF back in with scaled buys on this plunge. Not sure how much lower it goes but stupid cheap here as Canadian peer of KOG (just acquired). Been buying this 6.60-6.65 range fairly heavy as I think most are planning to buy ~6.50. I'll add there if I see it.
Nice yield as well.
Good discussion over at stockhouse.
http://www.stockhouse.com/companies/bullboard/t.lts/lightstream-resources-ltd/1
LSTMF down 6% on what doesn't look like bad news to me.
http://www.lightstreamresources.com/news/news-releases.cfm?newsReleaseAction=view&releaseId=157
$LSTMF- Here's the actual news from today. Seems like overkill to downside but chart pretty ugly.
http://www.lightstreamresources.com/news/news-releases.cfm?newsReleaseAction=view&releaseId=157
$LSTMF- Big selloff today, nibbling 6.63-6.66
Bakken turnaround play & sympathy to KOG (recently acquired). This has also been a Chen Lin pick.
"Buy side" notes out today
http://buysidenotes.com/2014/07/15/lightstream-lts-3x-eventually/
$CREG- They crawled into bed with notoriously toxic financier YA Global. Props to the trader unemon for calling this short today right near the top (twitter). He does some pretty good research.
I must admit I didn't fully read the CREG PR. I am plenty aware of YA Global but didn't put two & two together until unemon called it out.
Here's some background:
http://www.forbes.com/sites/nathanvardi/2012/10/17/sec-charges-formerly-1-billion-yorkville-advisors-hedge-fund-with-fraud-and-bogus-valuations/
Do some googling and you'll find plenty more dirt on them.
$VLO pre-announces a miss after hours and puts a damper on my great day. Silver lining, if any, is that they did highlight their ethanol segment as strong in the announcement.
PEIX glad I didn't have to wait long. This one has a mind of it's own.
Speaking of which, anyone like MCOX for a bounce?
$SCOK want to retest 2010 high of $53.70?
CXDC- Just had to do some reverse DD since I wasn't getting my bounce & bought more.
Yes, I finally read the rebuttal. Still holding, but WTF were they thinking using the word "outraged" in an official response?
Rule #1: Don't send an angry email/text/PR. At least don't show that you're upset.
I still think it bounces.
CXDC -7.5% after detailed rebuttal to hit piece (China name)
CXDC- Nibbled some 5.89
GPRE, with 1 billion gallon annual ethanol production capacity & 20% short interest broke out on the favorable ethanol environment this past week despite they're aggressive hedging and weakness in broader market. They're leaving a lot on the table with their hedging but are the best known ethanol pure play.
With corn looking increasingly likely to remain below $4 bushel rest of year, I prefer the less hedged names of PEIX, REX, and even refiner/ethanol producer VLO.
Looking for upside in each of these next week, with PEIX as my largest position and ~13% short. Institutional ownership updates for Q2 due next week and are likely to double, given the recent Russell addition.
For PEIX, Q1 would have been ~1.50 eps if not for non cash adjustment for warrant fair value (SP tripled in Q1). Instead, the $35.8 million fair value adjustment resulted in a GAAP loss of .69 per share. This was literally due to the appreciation in SP given in-the-money warrants. Not near as many of those now & SP actually decreased in Q2 so no concerns of a repeat in next report.
Q2 likely to be >1.25 eps based on margin trend. I think stock will trend up approaching the report in anticipation as more become aware. Production margins reached a 5-week high this week for ethanol producers as ethanol futures are holding up even with corn plunging.
With EV/EBITDA of 4...I don't think this will last even as a commodity play. No ethanol imports from Brazil (drought), coupled with increasing exports should make this a nice story for remainder of 2014.
Heavy in July & Aug calls here & expecting chart to really start shaping up with break of resistance at 16-16.30.
DA: For the coming week, I'd like to make two requests if you don't mind responding.
1) Your best 5-year weekly PEIX chart
2) Your best 5-year weekly CBI chart
I won't lie, I'd like some volatility to the upside during options ex.
On that note, I'd like to share something that aligns with my style of the TA/FA combo meal. I really like how this guy thinks on this blog.
http://deraldmuniz.com/2014/07/12/chicago-bridge-iron
Non cash fair value adjustment due to SP decrease from 3/31-6/30 could result in positive eps due to outstanding warrants.
Now, what to do with those warrants acting as an anchor?
Re The old wells being shut in.
Sounds to me like they are prepping the block for someone.
Obviously, they've known this was coming for some time. Performance of the older wells was something people have wondered about for years and now they finally spill the beans.
Would they bother going to the trouble if a sale weren't coming?
Just sounds a lot like a punch list item to me and a "full disclosure" type thing.
I hope I'm low but my prediction is now 12.5 cents based primarily on it being a "premium" to recent trading.
If this goes for .15+, I will be satisfied. I know the long time holders are hoping for more but I just don't see Mike pulling it off.
$CREG- This whole chain of events in recent months makes this one of the smelliest names in the space.
I say that from the perspective of management intent. This had long been considered on a higher tier than most of the other $1-$5 stocks (at least to me).
Sometimes I think the take private candidates are intentionally suppressed. Not saying that's the plan but they don't seem too interested in building shareholder value here.
Will be interesting to see how this smelly dog plays out.
Lol, and management had nothing to do with the toxic financing arrangement. Classic